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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
 Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but involve relatively small steps or lack specifics to support a meaningful improvement in the short-term. There are entrenched structural issues affecting the performance of the power sector of India and the solution would require a sustained and disciplined policy focus.
Fitch Ratings further said in its latest report that, the Indian budget for FY15, the finance minister announced several measures for the power sector. These include an extension of the tax holiday for power projects to March 2017 from March 2015, which we consider to be positive for investment activity. The budget also called for the provision of adequate quantity of coal to power plants commissioned by March 2015. However, the budget lacked very specific measures detailing how this will be achieved.
Fitch believes that it will not be possible to raise the production of coal significantly within a year. Aside from inadequate domestic production, infrastructure bottlenecks such as rail infrastructure also continue to act as a constraint to ensuring adequate coal supplies to power plants. Among the announced measures is the rationalisation of coal linkages to reduce transportation costs of coal; while this is a good measure, we believe such a reallocation of coal resources would have operational issues and can take some time to achieve.
Domestic coal production is much lower than the requirements of the power sector, and hence we think the coal shortage at various power plants will continue. India's total coal based power capacity at April 2014 was around 140 gigawatts (GW). This is expected to increase by around 15GW per year, which would require an additional 60 million tonnes of coal. There needs to be a sustained and long term plan in order to consistently increase domestic coal production.
The new administration has intensified pressure on Coal India Limited to improve its coal delivery. At the same time, the agency understands the government may revive coal pooling (i.e. pooled prices by combining both domestic and imported coal) as the country will have to import higher quantities of coal to support demand given that domestic production may be slow to ramp-up.
India also has around 20GW of gas based power plants which are severely affected due to the low availability of domestic gas. The budget also focuses on the renewable sector - most notably solar - for which there is an allocation of INR10bn for setting up solar plants in a few states and solar power driven agricultural pump sets.
The entire ecosystem of the power sector - from generation to distribution - needs to be strengthened. The financial health of the various state utilities needs to be improved through tariff rationalization and by addressing transmission and distribution losses.
About Fitch Ratings
For 100 years, Fitch Ratings has been making the future a little more predictable through independent and prospective credit ratings, commentary and research. Our global expertise draws on local market knowledge and spans the fixed-income universe. The additional context, perspective and insights we provide have helped the world’s investors fund a century of growth.
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Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Central Electricity Authority - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
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